In enterprise resource planning (“ERP”) systems, goods are typically centrally received at stores/warehouses (often referred to as “central receiving”) and then distributed. Peer-to-peer (“P2P”) systems offer the advantage of allowing requesters (i.e., those who request goods) to receive goods at their desk (often referred to as “desktop receiving”), thereby reducing work for the buyer/store-keeper and confirming that the user actually received the requested goods.
Quite often goods receipts are completely missed, and it is identified when invoices are being processed. Hence, proactive and reactive automated email alerts to requesters/buyers to create receipts will ensure the availability of receipts during invoice clearing, thereby saving cycle time.
In various spend analysis systems and processes, the analysis tool helps in classification of huge number of transactions into various categories of classified data. The classified data is analyzed through the tool and various reports are generated based on classified data. The various reports mention various saving opportunities based on the analysis of data and hence relate to spend analysis reports. The changes on classification feature play an important aspect in the tool, because the various reports which are generated based on classified data may not be very accurate meaning that the reports may have errors due to wrong classification of data. For example, suppose a report is generated for top five suppliers and the goods which they are offering such as particular vendor offers pen and various stationary; however, a drill machine is also shown in the report under that particular vendor. This is due to wrong classification.
Thus, there are many challenges in the market to correct the classification or the errors in the classified data through the tool by the user itself that is in real time.
Accordingly, there exists a need for a new and improved method for changing categorization data in real time that overcomes at least of the above-mentioned disadvantages.